Homes for Sale Arizona

Arizona new homes sales surge across the West, up 23%

The United States Census indicated sales across the west including Arizona
new homes sales in the United States having risen 23%.

The report includes sales figures from 13 western states including Arizona.

Nationally, new homes sales increased by 11 percent.

Real estate agents in Arizona are saying their clients prefer  new homes as opposed to resale houses.

One agent has said,”The foreclosure and short sale process is too long,” said .  “I’m taking my clients to the new builds because it takes less time and the price point is about the same.”

Another reason for the spike in Arizona new homes sales is the price.  One Valley real estate agent  says bank owned homes used to cost far less than new homes.  Now,  the price is about the same.

Arizona new homes are just a little bit more now than the bank owned homes, but with (new homes) you get peace of mind with built-in warranties whereas with a bank owned property you buy it as is.”

According to the report, 103,000 new homes were sold in the West during July, an increase of 19,000 over May.

To search Arizona new homes simply click the link.

Strong Gain in Existing Home Sale in Arizona

Strong Gain in Existing Home Sales in Arizona

“For the first time in five years, existing-home sales have increased for four months in a row, according to the National Association of REALTORS®. The last time sales rose for four consecutive months was in June 2004, and the last time sales were higher than a year earlier was November 2005.

Largest Gain in a Decade

The monthly sales gain was the largest on record for the total existing-home sales series dating back to 1999.

“Because price-to-income ratios have fallen below historical trends, there are more all-cash offers. In some recovering markets like San Diego, Las Vegas, Phoenix, and Orlando, the demand for foreclosed and lower-priced homes has spiked, and a lack of inventory is becoming a common complaint.” …….

Homes for Sale in Arizona #2 in Nation for Price Drop

Phoenix No. 2 in U.S. for drop in home prices

Phoenix is not leading the nation in home prices declines, according to the S&P/Case-Shiller home-price index released this morning.

Las Vegas is No. 1 with a 32.4 percent drop in housing values between June 2008 and June 2009. Metropolitan Phoenix came in at No. 2 with a 31.6 percent decline for the period. Detroit was No. 3 with a 25 percent price drop.

According to the well-respected index, metro Phoenix has led the nation for home price drops during most of the past six months. However, the Valley’s median home prices started to tick up in late April as the inventory of foreclosures for sale dipped.

Phoenix was one of the 20 cities tracked by the index that saw its price decline improve from May to June. Las Vegas and Detroit both experienced bigger decreases in home prices during the month.

Because the index lags a few months, metro Phoenix should do even better on next month’s index. The Valley’s median home price has climbed about $10,000 from the low it hit in early June.

Overall, U.S. home prices tracked in the 20-city index dropped in June to 15.4 percent from 17.1 percent.

For the fifteenth straight month, no metro area in the index posted a year-over-year price increase. Nationwide, home prices are at 2003 levels.

Source: AzCentral.com

Arizona Real Estate Boom Trend

Arizona Real Estate is on the rise for investors.

Recently it was reported that investors are coming to Arizona to purchse foreclosed homes and either sell, rent, or lease the homes back to the people or lost their home to foreclosure.

Some of the comments I’ve heard are “wow, I’m sure the people who are renting the same home they lost will take really good care of it”. I think the sarcasm is a little premature considering most people once they do something wrong the first time they normally won’t do it again!

If you would like to view Arizona Foreclosures for sale simply click the link.

Arizona Loan Modification Law Update

Arizona lawmakers are cracking down on home loan modifiers who promise results for big bucks, but deliver nothing in return.

Governor Jan Brewer just signed into law legislation requiring loan modification officers be licensed and have criminal background checks beginning July 2010.

The new law comes as a relief to homeowners like Jillian Strode.

Strode recently had her loan modified, but worried about being scammed by a home loan modification company.

“I had to be careful who I picked,” she said. “It was scary. I mean this is the American dream and I didn’t want to lose my home.”

Heckathorn turned to Steve Taplin, CEO of American Loan Restructuring for help.

Taplin says he sees a lot of scamming in the industry and welcomes the new law.

“It will force them to have background checks, it will force them to be held to a higher standard and it should really help push out a lot of these people who are taking advantage of people out there,” Taplin said.

He suggests homeowners look for companies that are willing to put the money paid out in escrow until the loan modification is approved. That way homeowners know they won’t be scammed.

“We don’t touch the money until we’ve gotten results,” said Taplin.

Under the new law, home loan modifiers will also undergo 20 hours of education on lending laws.

For more information on Loan Modifications in Arizona simply click the link

Homes for Sale in Arizona using IPhone

Shopping for a home for sale in Arizona  just got a little easier thanks to Apple.

Just imagine you are driving down the street, and you see a for sale sign in front of what you think could be your dream home. Your write down the number and can’t wait to call the broker.

If you have an iPhone, you can get the information on the spot.

Zillow.com released a free iPhone app last month, enabling consumers to get the low-down on more than 88 million homes – and not just the ones for sale.

The app is GPS-powered so the map follows you as you stroll, with price estimates popping up along the way. Pass a sale sign and you can access pricing, number of bedroom and baths, square footage and other info.

“House-hunting is, inherently, a mobile experience,” said Zillow’s CEO Rich Barton in announcing the launch.

This will add a whole other layer to that Sunday afternoon perambulation.

Click the link to search the Arizona MLS online

Arizona Relocation Due to Arizona Real Estate

We found this interesting news report showing an increase in the real estate market in Arizona.Lots of Canadians are coming down to take advantage of the Real Estate in Arizona.

View our Arizona MLSListing Page.

Arizona Neighborhood Stabilization Program for Arizona Homes and Arizona Foreclosures

Neighborhood Stabilization Program (NSP) Information

On July 30, 2008, President Bush signed into law the Housing and Economic Recovery Act of 2008 (HERA) to address the severe housing crisis. Title III of the Act appropriates $3.92 billion of grant funds under the Neighborhood Stabilization Program (NSP) for states and local governments to purchase and redevelop abandoned or foreclosed properties. The HERA directed the United States Department of Housing and Urban Development (HUD) and the city of Phoenix to target funding to areas with the greatest needs based on the extent of foreclosures, sub-prime mortgages, and mortgage delinquencies and defaults.

As funding recipients, city, county and state agencies must develop their own programs and funding priorities. However, they must use at least 25 percent of the funds appropriated for the purchase and redevelopment of abandoned or foreclosed homes or residential properties that will be used to house individuals or families whose incomes do not exceed 50 percent of the area median income. In addition, all activities funded by NSP must benefit low- and moderate-income persons whose income does not exceed 120 percent of area median income.

The city of Phoenix has kicked off their first program, “Homeownership Assistance” assisting buyers of foreclosed homes, townhouses or condominiums with $15,000 in down payment and closing cost assistance. If you are interested in finding out how to purchase a foreclosed property using this program please see the information links in the box below “Buying a Foreclosed Property”. If you are a a real estate professional or a lender or a mortgage broker representing a foreclosed property, please see the information links in the box below “Information for Real Estate Professionals and Lenders”.

source:phoenix.gov

Buyer Assistance With Phoenix Arizona New Homes Or Resales

Homebuyers offered Homeownership Assistance

The city of Phoenix is now offering $15,000 in down payment and closing cost assistance to help potential home buyers qualify to purchase foreclosed single family homes, townhouses or condominiums.

The Neighborhood Stabilization Program (NSP) allows home buyers to repay the full amount of the loan to the city when the homebuyer sells the home or refinances.

You can learn more about this opportunity by calling 602-262-6602 or click HERE to visit the website. If you are looking to purchase and Arizona Phoenix home, you can also search the Phoenix MLS by clicking HERE .

Quick Tool Using Arizona MLS Information

Quick Tool Using Arizona MLS Information

The fastest way to find Arizona new homes, land Arizona, foreclosures and more

Finding exactly what you’re looking for during this information age has become, in some ways more difficult because of the shear enormity of stuff. You have to sift through to get to what you want.

Real estate technology however, has taken a leap forward in the cut-to-the-chase race. There is now a mapping tool that lets you digitally fly over an area of interest to see where each listing is located. You can also specify search criteria, even to look only at foreclosures for example. Use your cursor to hover over a listing. The photo, price and address pops up. If you want more information, simply click on it again to see the full listing. A real time saver and VERY cool!

Click HERE to see an example of this new technology being utilized for Arizona MLS properties.

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